At the end, this article says ₹1,500 crore for 0.35 MT greenfield, with NINL being ~3MT, greenfield cost would be atmost ₹15,000 crores. At higher scale like 3MT, cost could be significantly lower. Not sure if NINL has integrated power plant, so by and large based on tech, age, maintenance etc., should be in ₹15,000 crores ballpark or less.
So ques becomes is NMDC worth ₹20,000 crores now (35-15) incl cash.
Which company is best poised to take advantage of the merger ratio?
I beleive TATA METALIKS at 1st look
Others please opine
I like this analogy. chor bane more really happening here.
Is there any information when the Tips Films shares will be listed and available to trade?
The board has given a go ahead to recruit the MD/CEO from market.
In May itself MD had confirmed he will complete his term which was till 2024, and now he resigns. Wondering what changed, and should we as minority/retail investors be worried about it.
This is not a good news for Tinplate shareholders I guess.
Disclosure- Sold it at a marginal loss as I am not interested in Tata Steel business
Dr. Vikas
I assume this was known to folks following REC. Does it portend more efficiency?
Schneider broke out today from its resistance of 165-68 band. Can move higher.
Nikhil
Disc: Invested.
Hi, today morning an announcement came that the Tata group will be merging all its Metal companies into Tata Steel. The companies being merged include :-
Tinplate : Shareholders will get 33 shares of Tata Steel for 10 shares of the company.
Tata Metaliks : Shareholders will get 79 shares of Tata Steel for 10 shares of the company.
Tata Steel long : Shareholders will get 67 shares of Tata Steel for 10 shares of the company.
TRF : Shareholders will get 17 shares of Tata Steel for 10 share of the company.
Have pasted the original announcement.
I don’t think the dates have been announced yet.
Would this merger bring any value unlocking in your opinion?
What would be the major positives & negatives?
The first reaction seems to be downside as most of the companies have opened gap down.
The scaffolding division is presenting a good opportunity
Existing Indian player like MFE BLS and even the international players local sales like LAHER PERI ULMA shows that there is competition in the business but each player has a niche product.
As far Technocraft is concerned there MACH one is a very good product and they are present in all the areas of scaffolding and formwork.
But if we observe we will notice that scaffolding is a capital intensive in nature which is reflected in high inventory we’re they have to maintain SKD kits at dealer end.
Now they have tie up with COATSMAN India for scaffolding and even there rental income scope has increased
They have also tie up with CAD2000 MLS in this area.
They did nearly 200 cr exports to AAIT USA there subsidiary previous year in scaffolding and some exports to Europe and Latin America and Africa. Now company is doing some major work in India in scaffolding in some major infra projects.
Whether the anticipated recession will play some dampening has to been seen.
As for drum closures with Europe and usa facing problems there competition like Tri-SURE whether it will be affected which will give some advantage or whether steel drums manufacturers will be affected has to been seen. But with a market share of 35/40 percent and projected market of around 3000 cr in 2030 there is improvement chances, which is mentioned in the CRISIL ratings of sep 2022. Now they have entered into plastic closure business which is also seeing some traction.
The engineering services business is not major but a reaonsable growth can be expected from the electronic design section of technosoft inc
The textile division has shown a turnaround but a wait and watch there garments is DANUBE fashion has ladies children and mens knitted garments.
Very honest decent but conservative promoter IIT GRADUTES and second line is in place with there sons taking charge has over 1300 permanent employees. Never diluted there equity nor pledged.
Even the balance sheet on a whole if see the investment is 420 cr ash 101 cr which will offset there DEBT. But even in the debt short term debt is around 440 cr which is majority in packing credit.
Three yr OCF is above 500 cr even after increase in the working capital.
We have an EBIT of around 360 cr for the working capital of 1400 cr (with investments) without investments and textile into account it will be 270 cr for 900 cr working capital.
But the market has identified the company under steel sector and hence low PE whether it will be categorised as a multiproduct company and get a 15 PE is left to the market dynamics
But with the present price correction it is avalaibe at less than 8 PE and around 5 evebita looks like an interesting bet.
DISCL bought holding qty with long term intentions